Terre et Lac secures RGreen loan for 74 MWp of solar power in France.

French independent renewable energy producer Terre et Lac Group has secured EUR 50 million (USD 58.1m) in funding to aid its growth through the development of a 74-MWp solar park portfolio in France.

The new financing was provided as short-term capital by French investment manager RGreen Invest, as announced by Terre et Lac on Thursday.

This portfolio is Terre et Lac's largest to date, comprising 245 photovoltaic (PV) projects, primarily rooftop installations. Once operational, these systems will generate enough electricity to supply the annual needs of 17,500 households.

These initiatives will enable Terre et Lac to strengthen its position in the domestic solar market, with three projects scheduled for commissioning this year.

Founded in 2009, Terre et Lac Solaire aims to achieve 1 GWp of solar PV capacity that is either operational or under construction by 2030. The Lyon-based company is supported by various investors, including the French infrastructure investment firm Infranity. This latest round of fundraising follows a previous EUR 70 million debt raise that was aimed at developing 55 MW of solar parks in metropolitan France.